April 27, 2020 |
Brazil's Odebrecht is preparing to face legal appeals to a judicial recovery plan that creditors approved on April 22, a source involved in the restructuring process told LatinFinance.
Federal savings bank Caixa Econômica Federal and others, including some of Odebrecht's shareholders, have opposed the plan from the start and they are expected to present challenges in court, according to the source.
"There are several who say they have a claim against the company and they will challenge the plan,
Caixa and others are likely to appeal a $9.5 bln recovery plan approved on April 22